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Galina has been using the Japanese Candlesticks in trading since 2004. Meanwhile, she has wrote dozens of articles about these patterns, because nowadays it's possible to see a lot of things that couldn't be discovered in the good old days. Everyday Galina share her expert opinion about EUR/USD and USD/JPY on the fxBazooka.com.

EUR/USD: "Three Black Crows" points to further decline

EUR/USD: "Three Black Crows" points to further decline

There’s a support by the 144 Moving Average, so we’ve got a “Three Methods” pattern on this line, but it hasn’t been confirmed yet. So, the market is likely going to test the nearest resistance, which could reverse the price movement into a downward direction. As we can see on the Daily chart, here’s a “Harami” at the local high, but it hasn’t got a confirmation. Therefore, bears will probably try to push the price lower in the short term.

EUR/USD: "Three Black Crows" points to further decline

We’ve got a “Harami” and a “Three Black Crows” at the local highs. Also, there’s a strong support by the 55 Moving Average. Under this circumstances, if we see a pullback from the nearest resistance, there’ll be an opportunity to have another bearish movement. 

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